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COMPANY REGISTRATION NUMBER: 10537086
EXALL DEVELOPMENTS LIMITED
Filleted Unaudited Abridged Financial Statements
31 March 2023
EXALL DEVELOPMENTS LIMITED
Abridged Financial Statements
Year ended 31 March 2023
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
3
EXALL DEVELOPMENTS LIMITED
Abridged Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
2,458
Current assets
Debtors
1
89,233
Creditors: amounts falling due within one year
( 15,757)
----
--------
Net current assets
1
73,476
----
--------
Total assets less current liabilities
1
75,934
Provisions
Taxation including deferred tax
( 420)
----
--------
Net assets
1
75,514
----
--------
EXALL DEVELOPMENTS LIMITED
Abridged Statement of Financial Position (continued)
31 March 2023
2023
2022
Note
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 99)
75,414
----
--------
Shareholders funds
1
75,514
----
--------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 13 February 2024 , and are signed on behalf of the board by:
A.C. Exall
Director
Company registration number: 10537086
EXALL DEVELOPMENTS LIMITED
Notes to the Abridged Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Midway House, Staverton Technology Park, Herrick Way, Staverton, Cheltenham, Glos, GL51 6TQ.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of the freehold investment property measured at fair value through profit or loss.
Revenue recognition
Turnover represents rents received from a furnished holiday let property.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
The directors consider the fair value of the freehold investment property to be not materially different from its cost. Other tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4. Tangible assets
£
Cost
At 1 April 2022
6,041
Disposals
( 6,041)
-------
At 31 March 2023
-------
Depreciation
At 1 April 2022
3,583
Disposals
( 3,583)
-------
At 31 March 2023
-------
Carrying amount
At 31 March 2023
-------
At 31 March 2022
2,458
-------